Sirius Hoping to Acquire XM
Monday, February 19, 2007
After months of speculation, it looks like Sirius Satellite Radio and XM are going to merge. Sirius is planning to buy XM for $4.6 billion in stock. The move would bring entertainers like Howard Stern and Oprah Winfrey under one radio roof. The deal faces substantial obstacles in Washington, including a Federal Communications Commission provision that specifically forbids the two companies to combine. If it overcomes a series of regulatory hurdles, Sirius' Chief Executive Mel Karmazin will lead the combined company.
Labels: sirius satellite radio
posted by jc @ 9:46 PM,
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